Iomega may not be a comeback story - Barron's
NEW YORK, Nov 15 (Reuters) - Alan Abelson, in his Barron's column, argues that once-highflyer Iomega Corp. may not be poised for a rebound just because its stock price plunged along with others and now appears on a recovery track.
"Iomega, in short, demonstrates that every stock that has sunk to low single digits isn't necessarily a screaming buy or even a screaming accumulate," Abelson said in the Nov. 16 Barron's. "It might merely be efficiently priced."
Iomega closed Friday at 7-3/8, up 1/2, but well off its 52-week high of 16-3/4.
To some the disc maker Iomega appears to be a comeback story because a major competitor, Syquest Technology Inc. , has fallen on hard times, the report notes.
But Iomega faces plenty of competition from Fuji and Sony Corp. , that are both due to unveil disc products of their own, the report said.
newsalert.com
Linda |
